[size=15pt]Nigeria Targets $10 Billion of Investment in Agriculture by 2015[/size]

By Mike Cohen & Elisha Bala-Gbogbo - May 10, 2013 2:32 PM GMT

http://www.bloomberg.com/news/2013-05-10/nigeria-targets-10-billion-of-investment-in-agriculture-by-2015.html


Nigeria is targeting $10 billion of investment in farming to boost domestic food production by 2015, as Africa’s most-populous nation seeks to reduce a reliance on imports, Agriculture Minister Akinwunmi Adesina said.

The government is working with the central bank to “unlock” $3.5 billion in funding from commercial banks for farmers, Adesina said in an interview today in Cape Town. So far, $8 billion in private investment commitments in agriculture has been arranged by President Goodluck Jonathan’s administration, he said.

Nigeria, Africa’s top oil producer, is trying to reverse a decline in its farming industry. The nation of more than 160 million people plans to boost food supply by 20 million metric tons by 2015. While Nigeria grew enough food to feed itself in the 1960s, it is now the world’s largest importer of rice and sub-Saharan Africa’s biggest importer of wheat and sugar.

Food production rose by about 8 million tons in 2012, about 40 percent of the four-year objective, “which was 70 percent above the target that we set for ourselves last year,” Adesina said.
Nigeria expects to produce more than the 3.2 million tons of rice it needs to become self-sufficient by next year, Adesina said. The country exported 3 million tons of dry cassava chips last year, exceeding a target to export 900,000 metric tons to China by 2015, he said.

This is great and all but I do wonder if they are looking at it only from a pure production standpoint, agriculture is a lucrative business and it would slash the poverty rates in Nigeria if the system as a whole was changed so farmers produced and sold more for less. I feel like this rise is more a government funded boost than a better system of regulation that resulted in farmers being to produce more, the latter would be amazing.

I can't really know for sure but I feel like far too many of GEJs moves are helping the nation but not the people. For example which commercial farms increased production off this, how exactly did the government make it easier for them to produce, which roads were rehabilitated that allowed them to move their product around, did the government use that money to subsidise the purchase of infrastructure for farmers and what policies did they introduce, what has been changed in the ministry of agricultures protocol for example because if this is just the federal government injecting money to boost production then they are throwing good money after bad.

Jonathan is working, haters are hating. GEJ for 2015.

Great move...

Smart dude. Though looks dull. He knows the northern empire is 100% agrarian. Now if u are as smart as he is...u will know what am talking about.

Come to think of it, if only the north was smart, they would have made fortune from agriculture. Oil without food nko? They need a chief strategist like me. Apart from rice, what else do we really import? Men!

Lame duck. All that is needed in the agric sector is an enabling environment. Make land more easily accessible, create farming villages, provide funds at affordable rates, make the trains work, provide more education on modern farming approaches through the media. leave the private sector to do the rest.

Are we there yet

Even if Mr Clueless Invests all the money in the world in farming, it will not get to the real farmers because they cannot access it due to the commercial banks requirements that they cannot meet. The money will end up in political farmers(Dangote and Co) pocket. So my advice, no need to invest Jonadumb.Build roads instead.

I love it 2015 hmmmm, na 2020 i go put my mind

$10 billion is too much on agriculture alone cos it ends up wasted. Besides its always the normal fertilizer and tractors that is purchased. The government should establish large agro firms/farms hence creating employment and food security will also be enhanced. Naija government has very poor initiatives that is why the common man never feels the impact of any decision made.

By 2015? Lol ok!

i will comment wen it is done. I m tired of hearing such story.

PRESIDENT JONATHAN THINKS HE IS CLEVER. He wants to win 2015 VOTES IN THE NEXT ELECTIONS BY DECLARING HIS AGRIC INVESTMENT AMBITION TO THE COUNTRY IN 2015. LET him start doing it now or rather he ought to have started doing it instead of playing politics with his country

val_dubem: Jonathan is working, haters are hating. GEJ for 2015.

you dey rap?

That's to declare State of emergency on agriculture,right?

GEJ to invest $10billion on agriculture, he also invested #900billion on security, also invested on rail construction, also invested on electricity and yet non of which is even showing face. Dis men really don't know what they about to do to Nigeria, which eva pastor or rev or native dr that tell them lies are about to be wrong. Why do Ѿε̲̣̣̣̥ allow this people ruin our country. Non of the so-called investments have yield anything. When Nigerians have nuffin to loose and a lot to prove that's when every body shuld be very afraid n dere is a count down to that.

When this is done, poverty rate will be reduced, standard of living raised and employment generated. But till then I cross my finger.

Minion:My lord,it seems jonathan has suddenly realize dat doom awaits him cum 2015
Hades:Did i hear u say doom.Jonathan knows he is ruling 160 million fools,emptypromises and dream-projects wud jus do d trick.

how will i believe we a almost producing up our wants.

Pedagogue: if he likes, he should invest zillions!!!


Only fools will fall for election theatrics!!!


But really, many Nigerians are fools

I was awestruck when I saw your comment sir/ma'. Do you mean that no matter what good a man does, insofar as you dont like his face all that good amounts to naught? This is incredulous! If the man you like is there, whether he achieves even less, that's just ok for you. Am not campaigning for him, am not suggesting you switch your political support to whoever, am not even the president's gangfellow and might not be. But am only bothered how the so-called leaders of tomorrow have been marooned in their face by hate.
Am an expert in this particular field (Agriculture) and I know a thing or two about its revolution. And Adesina is a global hero in this trade! Let's cure this self inflicted cancer called hate. Stop this Pull Him Down syndrome.
God bless Nigeria and Nigerians

The Headline of this thread is wrong and deceiving. It Makes it sound like the money is coming from Jonathans personal purse. The body says something else.
Anyway I strongly dislike Jonathan and associates in his government, they have no plans to transform Nigeria.The signs are everywhere
Please let's vote them out 2015

#.. Na Today! E don tay!! Wey we dey hear dis empty vows n promises na




All i am Asking is; where are the 6million chinco phones they were to share to nigerian farmers

A nation that cannot feed itself will always remain subservient to others. This guys should please step aside and let serious minded people lead this nation

this current administration better face one particular sector of the economy than acting ronaldinho in all sector.

He will be leaving by april,any need for the budget that will run thru 2015?
I don want him to do something and his oga @ the top in 2015(sai buhari ) will do another thing...dats all.

I wonder what will happen if GEJ wins 2015 elections, which is looking very likely by the way.
Many people would probably hang themselves.
These are interesting times.

This is just an avenue to boost the strengt of their pocket. It will be a good project if the money will reach real farmers. Lets pray it work. Am just tired of what is happening in this country.